NEW YORK ANALYSTS ARE THE MOST INTERNATIONAL
In the race to construct global teams of equity analysts, the Americans are clearly ahead, Euromoney's 1986 exclusive worldwide research ranking shows. But a firstclass global product is still some way off.
This is the second year that Euromoney has polled institutional investors around the globe, asking questions about the analysts they favour. The institutions are asked to vote for research stars in their home market and for analysts overseas. The Americans received many more cross-border votes than their counterparts in other countries.
American analysts in aerospace, electronics and paper impressed British institutions, for instance. Japanese investors gave no votes to the British, but smiled on American experts or portfolio strategy, autos, electronics and pharmaceuticals.
Perhaps this is a sign that the Americans' ambitious plans for building research teams around the world are beginning to pay dividends. During the rest of this year, First Boston, for instance, aims to launch reports comparing "world-class companies in the telecommunications, auto, chemical and heavy machinery industries". First Boston already publishes a global investors valuation guide, comparing the economies, markets and major industrial sectors of Europe, the Pacific Basin and North America.